Yum! Brands (YUM) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 05, 2022
Cover [Abstract]
Document Quarterly Report	true
Entity Incorporation, State or Country Code	NC
Entity Tax Identification Number	13-3951308
Trading Symbol	YUM
Security Exchange Name	NYSE
Entity Address, Address Line One	1441 Gardiner Lane,
Entity Address, City or Town	Louisville,
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40213
City Area Code	(502)
Local Phone Number	874-8300
Document Transition Report	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Registrant Name	YUM! BRANDS, INC.
Entity Central Index Key	0001041061
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	Common Stock, no par value
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Entity File Number	1-13163
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		285,163,809

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Revenues
Total Revenues		$ 1,547	$ 1,486
Costs and Expenses, Net
Company restaurant expenses		402	392
General and Administrative Expense		253	206
Franchise and property expenses		32	23
Franchise advertising and other services expense		361	343
Refranchising (gain) loss		(4)	(15)
Other (income) expense		(6)	(6)
Total costs and expenses, net		1,038	943
Operating Profit		509	543
Investment (income) expense, net	[1]	(7)	0
Other pension (income) expense		0	3
Interest expense, net	[2]	118	131
Income Before Income Taxes		398	409
Income tax provision		(1)	83
Net Income		$ 399	$ 326
Basic Earnings Per Common Share		$ 1.38	$ 1.09
Diluted Earnings Per Common Share		1.36	1.07
Dividends Declared Per Common Share		$ 0.57	$ 0.50
Company Sales
Revenues
Revenues		$ 470	$ 476
Franchise and property revenues
Revenues
Revenues		714	658
Franchise contributions for advertising and other services
Revenues
Revenues		$ 363	$ 352
[1]	Includes changes in the value of our investment in Devyani International Limited (see Note 12).
[2]	Includes fees expensed and unamortized debt-issuance costs written off totaling $12 million related to the refinancing of the Credit Agreement (as described within our 2021 Form 10-K) during the quarter ended March 31, 2021.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Income	$ 399	$ 326
Translation adjustments and gains (losses) from intra-entity transactions of a long-term investment nature
Adjustments and gains (losses) arising during the period	(23)	3
Translation adjustments and gains (losses) from intra-entity transactions of a long-term investment nature, before tax	(23)	3
Tax (expense) benefit	0	0
Translation adjustments and gains (losses) from intra-entity transactions of a long-term investment nature, net of tax	(23)	3
Changes in pension and post-retirement benefits
Unrealized gains (losses) arising during period, before Tax	0	47
Reclassification of (gains) losses into Net Income	5	7
Changes in pension and post-retirement benefits, before Tax	5	54
Pension and post-retirement benefit plans, tax	(1)	(13)
Pension and post-retirement benefit plans, net of tax	4	41
Changes in derivative instruments
Unrealized gains (losses) arising during the period	57	24
Reclassification of (gains) losses into Net Income	12	4
Changes in derivative instruments	69	28
Changes in derivatives, Tax	(17)	(7)
Changes in derivatives, net of tax	52	21
Other comprehensive income (loss), net of tax	33	65
Comprehensive Income (Loss)	$ 432	$ 391

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Cash Flows - Operating Activities
Net Income		$ 399	$ 326
Depreciation and amortization		37	39
Refranchising (gain) loss		(4)	(15)
Investment (income) expense, net	[1]	(7)	0
Deferred income taxes		(77)	14
Share-based compensation expense		26	21
Changes in accounts and notes receivable		29	27
Changes in prepaid expenses and other current assets		(13)	(9)
Changes in accounts payable and other current liabilities		(176)	(123)
Changes in income taxes payable		29	5
Other, net		10	39
Net Cash Provided by Operating Activities		253	324
Cash Flows - Investing Activities
Capital spending		(42)	(45)
Proceeds from refranchising of restaurants		24	20
Other, net		(11)	39
Net Cash Used in Investing Activities		(29)	14
Cash Flows - Financing Activities
Proceeds from long-term debt		0	800
Repayments of long-term debt		(15)	(912)
Revolving credit facilities, three months or less, net		174	0
Short-term borrowings by original maturity
More than three months - proceeds		0	0
More than three months - payments		0	0
Three months or less, net		0	0
Repurchase shares of Common Stock		(343)	(286)
Dividends paid on Common Stock		(165)	(150)
Other, net		(28)	(15)
Net Cash Provided by (Used in) Financing Activities		(377)	(563)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		0	3
Net Increase (Decrease) in Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		(153)	(222)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents - Beginning of Period		771	1,024
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents - End of Period		$ 618	$ 802
[1]	Includes changes in the value of our investment in Devyani International Limited (see Note 12).

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents		$ 365	$ 486
Accounts and notes receivable, net	[1]	565	596
Prepaid expenses and other current assets		426	450
Total Current Assets		1,356	1,532
Property, plant and equipment, net		1,181	1,207
Goodwill		656	657
Intangible assets, net		354	359
Other assets		1,485	1,487
Deferred Income Taxes		784	724
Total Assets		5,816	5,966
Current Liabilities
Accounts payable and other current liabilities		1,202	1,334
Income taxes payable		27	13
Short-term borrowings		73	68
Total Current Liabilities		1,302	1,415
Long-term debt		11,332	11,178
Other liabilities and deferred credits		1,673	1,746
Total Liabilities		14,307	14,339
Shareholders' Equity
Common Stock, no par value, 750 shares authorized; 298 shares issued in 2021 and 300 issued in 2020		0	0
Accumulated Deficit		(8,199)	(8,048)
Accumulated other comprehensive loss		(292)	(325)
Total Shareholders' Deficit		(8,491)	(8,373)
Total Liabilities and Shareholders' Deficit		$ 5,816	$ 5,966
Common Stock, No Par Value		$ 0	$ 0
Common Stock, Shares Authorized		750	750
Common Stock, Shares, Issued		286	289
[1]	Accounts and notes receivable, net includes approximately $2 million in license fees at March 31, 2022 related to Yum China Holdings, Inc. ("Yum China") gross revenue during the quarter ended March 31, 2022 that Yum China is now disputing are due under the terms of the Master License Agreement (“MLA”) between the Company and Yum China. License fees related to such revenue have historically been paid by Yum China and we believe they continue to be due under the terms of the MLA.

CONDENSED STATEMENT OF SHAREHOL

CONDENSED STATEMENT OF SHAREHOLDERS EQUITY STATEMENT - USD ($) $ in Millions		Total		Issued Common Stock	Accumulated Deficit	Accumulated Other Comprehensive Loss
Total Shareholders' Deficit		$ (7,891)		$ 0	$ (7,480)	$ (411)
Issued Common Stock, Shares				300,000,000
Net Income		326			326
Translation adjustments and gains (losses) from intra-entity transactions of a long-term investment nature		3				3
Pension and post-retirement benefit plans, net of tax		41				41
Pension and post-retirement benefit plans, tax		13
Changes in derivatives, net of tax		21				21
Changes in derivatives, Tax		7
Comprehensive Income (Loss)		391
Dividends declared		(151)			(151)
Shares Repurchased	[1]			(2,599,000)
Repurchase of shares of Common Stock, value		(275)	[1]	$ (14)	(261)
Employee Stock Option and SARs Exercises, Shares				1,000,000
Employee Stock Option and SARs Exercises, Value		(10)		$ (10)
Share-based compensation events		24		24
Total Shareholders' Deficit		(7,912)		$ 0	(7,566)	(346)
Issued Common Stock, Shares				298,000,000
Total Shareholders' Deficit		(8,373)		$ 0	(8,048)	(325)
Issued Common Stock, Shares				289,000,000
Net Income		399			399
Translation adjustments and gains (losses) from intra-entity transactions of a long-term investment nature		(23)				(23)
Pension and post-retirement benefit plans, net of tax		4				4
Pension and post-retirement benefit plans, tax		1
Changes in derivatives, net of tax		52				52
Changes in derivatives, Tax		17
Comprehensive Income (Loss)		432
Dividends declared		(165)			(165)
Shares Repurchased	[2]			(3,359,000)
Repurchase of shares of Common Stock, value		(407)	[2]	$ (22)	(385)
Employee Stock Option and SARs Exercises, Value		(16)		(16)
Share-based compensation events		38		38
Total Shareholders' Deficit		$ (8,491)		$ 0	$ (8,199)	$ (292)
Issued Common Stock, Shares				286,000,000
[1]	2021 amount excludes the effect of $11 million in share repurchases (0.1 million shares) with trade dates on, or prior to December 31, 2020, but cash settlement dates subsequent to December 31, 2020.
[2]	2022 amount includes the effect of $64 million in share repurchases (0.5 million shares) with trade dates on, or prior to, March 31, 2022, but cash settlement dates subsequent to March 31, 2022.

Financial Statement Presentatio

Financial Statement Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statement Presentation	Financial Statement Presentation We have prepared our accompanying unaudited Condensed Consolidated Financial Statements (“Financial Statements”) in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by Generally Accepted Accounting Principles in the United States (“GAAP”) for complete financial statements. Therefore, we suggest that the accompanying Financial Statements be read in conjunction with the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (“2021 Form 10-K”). Yum! Brands, Inc. and its Subsidiaries (collectively referred to herein as the “Company,” “YUM,” “we,” “us” or “our”) franchise or operate a system of over 54,000 restaurants in more than 155 countries and territories. As of March 31, 2022, 98% of these restaurants were owned and operated by franchisees. The Company’s KFC, Taco Bell and Pizza Hut brands are global leaders of the chicken, Mexican-style and pizza food categories, respectively. The Habit Burger Grill is a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. As of March 31, 2022, YUM consisted of four operating segments: • The KFC Division which includes our worldwide operations of the KFC concept • The Taco Bell Division which includes our worldwide operations of the Taco Bell concept • The Pizza Hut Division which includes our worldwide operations of the Pizza Hut concept • The Habit Burger Grill Division which includes our worldwide operations of the Habit Burger Grill concept YUM's fiscal year begins on January 1 and ends December 31 of each year, with each quarter comprised of three months. The majority of our U.S. subsidiaries, including, beginning in fiscal year 2022, our Habit Burger Grill Division, and certain international subsidiaries operate on a weekly periodic calendar where the first three quarters of each fiscal year consist of 12 weeks and the fourth quarter consists of 16 weeks in fiscal years with 52 weeks and 17 weeks in fiscal years with 53 weeks. Our remaining international subsidiaries operate on a monthly calendar similar to that on which YUM operates. For fiscal year 2021, our Habit Burger Grill Division operated on a weekly periodic calendar where each quarter consisted of 13 weeks. The impact of this change in reporting calendar was not significant and accordingly, prior year amounts presented in these Condensed Consolidated Financial Statements have not been restated. Our preparation of the accompanying Financial Statements in conformity with GAAP requires us to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. The accompanying Financial Statements include all normal and recurring adjustments considered necessary to present fairly, when read in conjunction with our 2021 Form 10-K, the results of the interim periods presented. Our results of operations, comprehensive income, cash flows and changes in shareholders' deficit for these interim periods are not necessarily indicative of the results to be expected for the full year. Our significant interim accounting policies include the recognition of advertising and marketing costs, generally in proportion to revenue, and the recognition of income taxes using an estimated annual effective tax rate. We have reclassified certain other items in the Financial Statements for the prior periods to be comparable with the classification for the quarter ended March 31, 2022. These reclassifications had no effect on previously reported Net Income. Russia Invasion of Ukraine Given the Russian invasion of Ukraine, during the quarter ended March 31, 2022, we announced the suspension of all investment and restaurant development efforts in Russia as well as the operations of our 70 company-owned KFC restaurants in Russia and that we are finalizing an agreement with our Pizza Hut master franchisee to suspend all Pizza Hut restaurant operations. In addition to these actions, we have begun a process aimed at transferring ownership to local operators.

Earnings Per Common Share ("EPS

Earnings Per Common Share ("EPS")	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Common Share (EPS)	Earnings Per Common Share (“EPS”) Quarter ended 2022 2021 Net Income $ 399 $ 326 Weighted-average common shares outstanding (for basic calculation) 289 301 Effect of dilutive share-based employee compensation 5 4 Weighted-average common and dilutive potential common shares outstanding (for diluted calculation) 294 305 Basic EPS $ 1.38 $ 1.09 Diluted EPS $ 1.36 $ 1.07 Unexercised employee stock options and stock appreciation rights (in millions) excluded from the diluted EPS computation (a) 1.2 2.3 (a) These unexercised employee stock options and stock appreciation rights were not included in the computation of diluted EPS because to do so would have been antidilutive for the periods presented.

Shareholders' Deficit

Shareholders' Deficit	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Deficit Under the authority of our Board of Directors, we repurchased shares of our Common Stock during the quarters ended March 31, 2022 and 2021 as indicated below. All amounts exclude applicable transaction fees. Shares Repurchased Dollar Value of Shares Remaining Dollar Value of Shares that may be Repurchased Authorization Date 2022 2021 2022 2021 2022 November 2019 — 2,599 $ — $ 275 $ — May 2021 3,359 — 407 — 543 Total 3,359 (a) 2,599 (b) $ 407 (a) $ 275 (b) $ 543 (a) 2022 amount includes the effect of $64 million in share repurchases (0.5 million shares) with trade dates on, or prior to, March 31, 2022, but cash settlement dates subsequent to March 31, 2022. (b) 2021 amount excludes the effect of $11 million in share repurchases (0.1 million shares) with trade dates on, or prior to December 31, 2020, but cash settlement dates subsequent to December 31, 2020. In May 2021, our Board of Directors authorized share repurchases from July 1, 2021 through December 31, 2022, of up to $2 billion (excluding applicable transaction fees) of our outstanding Common Stock. Changes in Accumulated other comprehensive loss (“AOCI”) are presented below. Translation Adjustments and Gains (Losses) From Intra-Entity Transactions of a Long-Term Nature Pension and Post-Retirement Benefits Derivative Instruments Total Balance at December 31, 2021, net of tax $ (206) $ (34) $ (85) $ (325) OCI, net of tax Gains (losses) arising during the period classified into AOCI, net of tax (23) — 43 20 (Gains) losses reclassified from AOCI, net of tax — 4 9 13 (23) 4 52 33 Balance at March 31, 2022, net of tax $ (229) $ (30) $ (33) $ (292)

Other (Income) Expense

Other (Income) Expense	3 Months Ended
	Mar. 31, 2022
Other Income and Expenses [Abstract]
Other (Income) Expense	Other (Income) Expense Quarter ended 3/31/2022 3/31/2021 Foreign exchange net (gain) loss $ (4) $ 2 Impairment and closure expense — 1 Other (a) (2) (9) Other (income) expense $ (6) $ (6) (a) The quarter ended March 31, 2021, includes a gain of $6 million associated with the sale of property.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Mar. 31, 2022
Supplemental Balance Sheet Information Disclosure [Abstract]
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information Accounts and Notes Receivable, net The Company’s receivables are primarily generated from ongoing business relationships with our franchisees as a result of franchise and lease agreements. Trade receivables consisting of royalties from franchisees are generally due within 30 days of the period in which the corresponding sales occur and are classified as Accounts and notes receivable, net in our Condensed Consolidated Balance Sheets. Accounts and notes receivable, net also includes receivables generated from advertising cooperatives that we consolidate. 3/31/2022 12/31/2021 Accounts and notes receivable, gross $ 606 $ 632 Allowance for doubtful accounts (41) (36) Accounts and notes receivable, net (a) $ 565 $ 596 (a) Accounts and notes receivable, net includes approximately $2 million in license fees at March 31, 2022 related to Yum China Holdings, Inc. ("Yum China") gross revenue during the quarter ended March 31, 2022 that Yum China is now disputing are due under the terms of the Master License Agreement (“MLA”) between the Company and Yum China. License fees related to such revenue have historically been paid by Yum China and we believe they continue to be due under the terms of the MLA. Property, Plant and Equipment, net 3/31/2022 12/31/2021 Property, plant and equipment, gross $ 2,468 $ 2,477 Accumulated depreciation and amortization (1,287) (1,270) Property, plant and equipment, net $ 1,181 $ 1,207 Assets held-for-sale totaled $9 million and $12 million as of March 31, 2022 and December 31, 2021, respectively, and are included in Prepaid expenses and other current assets in our Condensed Consolidated Balance Sheets. Other Assets 3/31/2022 12/31/2021 Operating lease right-of-use assets (a) $ 791 $ 809 Franchise incentives 179 164 Investment in Devyani International Limited (See Note 12) 122 118 Other 393 396 Other assets $ 1,485 $ 1,487 (a) Non-current operating lease liabilities of $776 million and $793 million as of March 31, 2022 and December 31, 2021, respectively, are included in Other liabilities and deferred credits in our Condensed Consolidated Balance Sheets. Reconciliation of Cash and Cash Equivalents for Condensed Consolidated Statements of Cash Flows 3/31/2022 12/31/2021 Cash and cash equivalents as presented in Condensed Consolidated Balance Sheets $ 365 $ 486 Restricted cash included in Prepaid expenses and other current assets (a) 218 250 Restricted cash and restricted cash equivalents included in Other assets (b) 35 35 Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents as presented in Condensed Consolidated Statements of Cash Flows $ 618 $ 771 (a) Restricted cash within Prepaid expenses and other current assets reflects the cash related to advertising cooperatives which we consolidate that can only be used to settle obligations of the respective cooperatives and cash held in reserve for Taco Bell Securitization interest payments. (b) Primarily trust accounts related to our self-insurance program.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Quarter ended 2022 2021 Income tax (benefit) provision $ (1) $ 83 Effective tax rate (0.2) % 20.2 %

Revenue Recognition Accounting

Revenue Recognition Accounting Policy	3 Months Ended
	Mar. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of Total Revenues The following tables disaggregate revenue by Concept, for our two most significant markets based on Operating Profit and for all other markets. We believe this disaggregation best reflects the extent to which the nature, amount, timing and uncertainty of our revenues and cash flows are impacted by economic factors. Quarter ended 3/31/2022 KFC Division Taco Bell Division Pizza Hut Division Habit Burger Grill Division Total U.S. Company sales $ 15 $ 214 $ 5 $ 125 $ 359 Franchise revenues 45 157 64 1 267 Property revenues 3 11 1 — 15 Franchise contributions for advertising and other services 6 123 72 — 201 China Franchise revenues 61 — 16 — 77 Other Company sales 111 — — — 111 Franchise revenues 260 11 70 — 341 Property revenues 14 — — — 14 Franchise contributions for advertising and other services 145 1 16 — 162 $ 660 $ 517 $ 244 $ 126 $ 1,547 Quarter ended 3/31/2021 KFC Division Taco Bell Division Pizza Hut Division Habit Burger Grill Division Total U.S. Company sales $ 14 $ 208 $ 5 $ 121 $ 348 Franchise revenues 44 144 67 1 256 Property revenues 4 10 — — 14 Franchise contributions for advertising and other services 6 117 79 — 202 China Franchise revenues 62 — 16 — 78 Other Company sales 119 — 9 — 128 Franchise revenues 230 8 57 — 295 Property revenues 14 — 1 — 15 Franchise contributions for advertising and other services 132 1 17 — 150 $ 625 $ 488 $ 251 $ 122 $ 1,486 Contract Liabilities Our contract liabilities are comprised of unamortized upfront fees received from franchisees and are presented within Accounts payable and other current liabilities and Other liabilities and deferred credits in our Condensed Consolidated Balance Sheets. A summary of significant changes to the contract liability balance during 2022 is presented below. Deferred Franchise Fees Balance at December 31, 2021 $ 421 Revenue recognized that was included in unamortized upfront fees received from franchisees at the beginning of the period (19) Increase for upfront fees associated with contracts that became effective during the period, net of amounts recognized as revenue during the period 16 Balance at March 31, 2022 $ 418 We expect to recognize contract liabilities as revenue over the remaining term of the associated franchise agreement as follows: Less than 1 year $ 67 1 - 2 years 62 2 - 3 years 57 3 - 4 years 50 4 - 5 years 44 Thereafter 138 Total $ 418

Reportable Operating Segments

Reportable Operating Segments	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Reportable Operating Segments	Reportable Operating SegmentsWe identify our operating segments based on management responsibility. The following tables summarize Revenues and Operating Profit for each of our reportable operating segments: Quarter ended Revenues 2022 2021 KFC Division $ 660 $ 625 Taco Bell Division 517 488 Pizza Hut Division 244 251 Habit Burger Grill Division 126 122 $ 1,547 $ 1,486 Quarter ended Operating Profit 2022 2021 KFC Division $ 291 $ 300 Taco Bell Division 185 178 Pizza Hut Division 102 102 Habit Burger Grill Division (8) — Corporate and unallocated G&A expenses (71) (50) Unallocated Company restaurant expenses — — Unallocated Franchise and property expenses — — Unallocated Refranchising gain (loss) 4 15 Unallocated Other income (expense) 6 (2) Operating Profit $ 509 $ 543 Investment income (expense), net (a) 7 — Other pension income (expense) — (3) Interest expense, net (b) (118) (131) Income before income taxes $ 398 $ 409 Our chief operating decision maker ( “ CODM ” ) does not consider the impact of Corporate and unallocated amounts when assessing Divisional segment performance. As such, we do not allocate such amounts to our Divisional segments for performance reporting purposes. (a) Includes changes in the value of our investment in Devyani International Limited (see Note 12). (b) Includes fees expensed and unamortized debt-issuance costs written off totaling $12 million related to the refinancing of the Credit Agreement (as described within our 2021 Form 10-K) during the quarter ended March 31, 2021.

Pension Benefits

Pension Benefits	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Pension Benefits	Pension Benefits We sponsor qualified and supplemental (non-qualified) noncontributory defined benefit pension plans covering certain full-time salaried and hourly U.S. employees. The most significant of these plans, the YUM Retirement Plan (the “ Plan ” ), is funded. We fund our other U.S. plans as benefits are paid. The Plan and our non-qualified plans in the U.S. are closed to new salaried participants. The components of net periodic benefit cost associated with our U.S. pension plans are as follows: Quarter ended 2022 2021 Service cost $ 2 $ 2 Interest cost 8 8 Expected return on plan assets (12) (11) Amortization of net loss 3 6 Amortization of prior service cost 1 1 Net periodic benefit cost $ 2 $ 6

Short-term Borrowings and Long-

Short-term Borrowings and Long-term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Short-term Borrowings and Long-term Debt	Short-term Borrowings and Long-term Debt Short-term Borrowings 3/31/2022 12/31/2021 Current maturities of long-term debt $ 80 $ 75 Less current portion of debt issuance costs and discounts (7) (7) Short-term borrowings $ 73 $ 68 Long-term Debt Securitization Notes $ 3,802 $ 3,811 Subsidiary Senior Unsecured Notes 750 750 Revolving Facility 174 — Term Loan A Facility 750 750 Term Loan B Facility 1,485 1,489 YUM Senior Unsecured Notes 4,475 4,475 Finance lease obligations 64 64 $ 11,500 $ 11,339 Less debt issuance costs and discounts (88) (86) Less current maturities of long-term debt (80) (75) Long-term debt $ 11,332 $ 11,178 Details of our Short-term borrowings and Long-term debt as of December 31, 2021 can be found within our 2021 Form 10-K. On February 23, 2022, Yum! Brands, Inc. issued a notice of redemption for the $600 million aggregate principal amount of 7.75% YUM Senior Unsecured Notes due April 1, 2025 (the “2025 Notes”). The 2025 Notes were redeemed subsequent to the first quarter, on April 1, 2022, at an amount equal to 103.875% of the aggregate principal amount of the 2025 Notes, reflecting a $23 million “call premium”, plus accrued and unpaid interest to the date of redemption. Also subsequent to the first quarter, on April 1, 2022, Yum! Brands, Inc. issued $1.0 billion aggregate principal amount of 5.375% YUM Senior Unsecured Notes due April 1, 2032 (the “April 2032 Notes”). The net proceeds from the April 2032 Notes were used to fund the redemption of the 2025 Notes discussed above and for general corporate purposes. The redemption of the 2025 Notes and issuance of the April 2032 Notes are not reflected in the table above. Cash paid for interest during the quarter ended March 31, 2022, was $90 million. During the quarter ended March 31, 2021, fees expensed as well as previously recorded unamortized debt issuance costs written off totaling $12 million were recognized within Interest expense, net due to the refinancing of our Credit Agreement. Excluding these amounts associated with the Credit Agreement refinancing, cash paid for interest during the quarter ended March 31, 2021, was $88 million.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative InstrumentsWe use derivative instruments to manage certain of our market risks related to fluctuations in interest rates and foreign currency exchange rates. Our use of foreign currency contracts to manage foreign currency exchange rates is currently not significant. Interest Rate Swaps We have entered into interest rate swaps, with the objective of reducing our exposure to interest rate risk for a portion of our variable-rate debt interest payments primarily under our Term Loan B Facility. At both March 31, 2022 and December 31, 2021, we had interest rate swaps expiring in March 2025 with notional amounts of $1.5 billion. These interest rate swaps have been designated cash flow hedges as the changes in the future cash flows of the swaps are expected to offset changes in expected future interest payments on the related variable-rate debt. There were no other interest rate swaps outstanding as of March 31, 2022 or December 31, 2021. Gains or losses on the interest rate swaps are reported as a component of AOCI and reclassified into Interest expense, net in our Condensed Consolidated Statements of Income in the same period or periods during which the related hedged interest payments affect earnings. Through March 31, 2022, the swaps were highly effective cash flow hedges. As a result of the use of interest rate swaps, the Company is exposed to risk that the counterparties will fail to meet their contractual obligations. To mitigate the counterparty credit risk, we only enter into contracts with major financial institutions carefully selected based upon their credit ratings and other factors, and continually assess the creditworthiness of counterparties. At March 31, 2022, all of the counterparties to our interest rate swaps had investment grade ratings according to the three major ratings agencies. To date, all counterparties have performed in accordance with their contractual obligations. Gains and losses on these interest rate swaps recognized in OCI and reclassifications from AOCI into Net Income were as follows: Quarter ended Gains/(Losses) Recognized in OCI (Gains)/Losses Reclassified from AOCI into Net Income 2022 2021 2022 2021 Interest rate swaps $ 59 $ 24 $ 11 $ 4 Income tax benefit/(expense) (14) (6) (3) (1) As of March 31, 2022, the estimated net loss included in AOCI related to our cash flow hedges that will be reclassified into earnings in the next 12 months is $17 million, based on current LIBOR interest rates. Total Return Swaps We have entered into total return swap derivative contracts, with the objective of reducing our exposure to market-driven changes in certain of the liabilities associated with compensation deferrals into our Executive Income Deferral (“EID”) plan. While these total return swaps represent economic hedges, we have not designated them as hedges for accounting purposes. As a result, the changes in the fair value of these derivatives are recognized immediately in earnings within General and administrative expenses in our Condensed Consolidated Statements of Income largely offsetting the changes in the associated EID liabilities. The fair value associated with the total return swaps as of March 31, 2022, was not significant. See Note 12 for the fair value of our derivative assets and liabilities.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value DisclosuresAs of March 31, 2022, the carrying values of cash and cash equivalents, restricted cash, short-term investments, accounts receivable, short-term borrowings and accounts payable approximated their fair values because of the short-term nature of these instruments. The fair value of borrowings under our Revolving Facility, our notes receivable, net of allowances, and lease guarantees, less reserves for expected losses, approximates their carrying value. The following table presents the carrying value and estimated fair value of the Company’s debt obligations: 3/31/2022 12/31/2021 Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) Securitization Notes (a) $ 3,802 $ 3,703 $ 3,811 $ 3,872 Subsidiary Senior Unsecured Notes (b) 750 773 750 784 Term Loan A Facility (b) 750 748 750 748 Term Loan B Facility (b) 1,485 1,477 1,489 1,490 YUM Senior Unsecured Notes (b) 4,475 4,452 4,475 4,845 (a) We estimated the fair value of the Securitization Notes using market quotes and calculations. The markets in which the Securitization Notes trade are not considered active markets. (b) We estimated the fair value of the YUM and Subsidiary Senior Unsecured Notes, Term Loan A Facility and Term Loan B Facility using market quotes and calculations based on market rates. Recurring Fair Value Measurements The Company has interest rate swaps and other investments, all of which are required to be measured at fair value on a recurring basis (see Note 11 for discussion regarding derivative instruments). The following table presents fair values for those assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the measurements fall. Fair Value Condensed Consolidated Balance Sheet Level 3/31/2022 12/31/2021 Assets Other Investments Other assets 1 125 119 Other Investments Other assets 3 5 5 Liabilities Interest Rate Swaps Accounts payable and other current liabilities 2 17 38 Interest Rate Swaps Other liabilities and deferred credits 2 5 54 The fair value of the Company’s interest rate swaps were determined based on the present value of expected future cash flows considering the risks involved, including nonperformance risk, and using discount rates appropriate for the duration based on observable inputs. The other investments primarily include an approximate 5% minority interest in Devyani International Limited (“Devyani”), an entity that operates KFC and Pizza Hut franchised units in India, with a fair value of Indian Rupee 9.3 billion (or approximately $122 million) and Indian Rupee 8.8 billion (or approximately $118 million) at March 31, 2022 and December 31, 2021, respectively. For the quarter ended March 31, 2022, we recognized pre-tax investment income of Indian Rupee 540 million (or approximately $7 million) related to changes in fair value of our investment in Devyani.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Guarantees, Commitments and Contingencies	Contingencies Internal Revenue Service Proposed Adjustment As a result of an audit by the Internal Revenue Service (“IRS”) for fiscal years 2013 through 2015, on October 13, 2021, we received a Notice of Proposed Adjustment (“NPA”) from the IRS for the 2014 fiscal year relating to a series of reorganizations we undertook during that year in connection with the business realignment of our corporate and management reporting structure along brand lines. The IRS asserts that these reorganizations involved taxable distributions of approximately $6.0 billion. We expect to receive the Revenue Agent’s Report (“RAR”) including the IRS’s calculation of the tax assessment in the second quarter of 2022. Based on the NPA, the amount of additional tax to be proposed is expected to be material. We disagree with the IRS’s position as asserted in the NPA and intend to contest it vigorously by filing a protest disputing on multiple grounds any proposed taxes and proceeding to the IRS Office of Appeals. The final resolution of this matter is uncertain, but the Company believes that it is more likely than not the Company’s tax position will be sustained; therefore, no reserve is recorded with respect to this matter. An unfavorable resolution of this matter could have a material, adverse impact on our consolidated Financial Statements in future periods. Lease Guarantees As a result of having assigned our interest in obligations under real estate leases as a condition to the refranchising of certain Company-owned restaurants, and guaranteeing certain other leases, we are frequently secondarily liable on lease agreements. These leases have varying terms, the latest of which expires in 2065. As of March 31, 2022, the potential amount of undiscounted payments we could be required to make in the event of non-payment by the primary lessee was approximately $400 million. The present value of these potential payments discounted at our pre-tax cost of debt at March 31, 2022, was approximately $325 million. Our franchisees are the primary lessees under the vast majority of these leases. We generally have cross-default provisions with these franchisees that would put them in default of their franchise agreement in the event of non-payment under the lease. We believe these cross-default provisions significantly reduce the risk that we will be required to make payments under these leases, although such risk may not be reduced in the context of a bankruptcy or other similar restructuring of a large franchisee or group of franchisees. The liability recorded for our expected losses under such leases as of March 31, 2022, was not material. Legal Proceedings We are subject to various claims and contingencies related to lawsuits, real estate, environmental and other matters arising in the normal course of business. An accrual is recorded with respect to claims or contingencies for which a loss is determined to be probable and reasonably estimable. Yum! Restaurants India Private Limited (“YRIPL”), a YUM subsidiary that operates KFC and Pizza Hut restaurants in India, is the subject of a regulatory enforcement action in India (the “Action”). The Action alleges, among other things, that KFC International Holdings, Inc. and Pizza Hut International failed to satisfy certain conditions imposed by the Secretariat for Industrial Approval in 1993 and 1994 when those companies were granted permission for foreign investment and operation in India. The conditions at issue include an alleged minimum investment commitment and store build requirements as well as limitations on the remittance of fees outside of India. The Action originated with a complaint and show cause notice filed in 2009 against YRIPL by the Deputy Director of the Directorate of Enforcement (“DOE”) of the Indian Ministry of Finance following an income tax audit for the years 2002 and 2003. The matter was argued at various hearings in 2015, but no order was issued. Following a change in the incumbent official holding the position of Special Director of DOE (the “Special Director”), the matter resumed in 2018 and several additional hearings were conducted. On January 29, 2020, the Special Director issued an order imposing a penalty on YRIPL and certain former directors of approximately Indian Rupee 11 billion, or approximately $145 million. Of this amount, $140 million relates to the alleged failure to invest a total of $80 million in India within an initial seven-year period. We have been advised by external counsel that the order is flawed and have filed a writ petition with the Delhi High Court, which granted an interim stay of the penalty order on March 5, 2020. The stay order remains in effect and the next hearing is now scheduled for August 31, 2022. We deny liability and intend to continue vigorously defending this matter. We do not consider the risk of any significant loss arising from this order to be probable. We are currently engaged in various other legal proceedings and have certain unresolved claims pending, the ultimate liability for which, if any, cannot be determined at this time. However, based upon consultation with legal counsel, we are of the opinion that such proceedings and claims are not expected to have a material adverse effect, individually or in the aggregate, on our Consolidated Financial Statements.

Earnings Per Common Share ("E_2

Earnings Per Common Share ("EPS") Earnings Per Common Share ("EPS") (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Quarter ended 2022 2021 Net Income $ 399 $ 326 Weighted-average common shares outstanding (for basic calculation) 289 301 Effect of dilutive share-based employee compensation 5 4 Weighted-average common and dilutive potential common shares outstanding (for diluted calculation) 294 305 Basic EPS $ 1.38 $ 1.09 Diluted EPS $ 1.36 $ 1.07 Unexercised employee stock options and stock appreciation rights (in millions) excluded from the diluted EPS computation (a) 1.2 2.3 (a) These unexercised employee stock options and stock appreciation rights were not included in the computation of diluted EPS because to do so would have been antidilutive for the periods presented.

Shareholders' Deficit (Tables)

Shareholders' Deficit (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Accelerated Share Repurchases	Shares Repurchased Dollar Value of Shares Remaining Dollar Value of Shares that may be Repurchased Authorization Date 2022 2021 2022 2021 2022 November 2019 — 2,599 $ — $ 275 $ — May 2021 3,359 — 407 — 543 Total 3,359 (a) 2,599 (b) $ 407 (a) $ 275 (b) $ 543 (a) 2022 amount includes the effect of $64 million in share repurchases (0.5 million shares) with trade dates on, or prior to, March 31, 2022, but cash settlement dates subsequent to March 31, 2022. (b) 2021 amount excludes the effect of $11 million in share repurchases (0.1 million shares) with trade dates on, or prior to December 31, 2020, but cash settlement dates subsequent to December 31, 2020.
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in Accumulated other comprehensive loss (“AOCI”) are presented below. Translation Adjustments and Gains (Losses) From Intra-Entity Transactions of a Long-Term Nature Pension and Post-Retirement Benefits Derivative Instruments Total Balance at December 31, 2021, net of tax $ (206) $ (34) $ (85) $ (325) OCI, net of tax Gains (losses) arising during the period classified into AOCI, net of tax (23) — 43 20 (Gains) losses reclassified from AOCI, net of tax — 4 9 13 (23) 4 52 33 Balance at March 31, 2022, net of tax $ (229) $ (30) $ (33) $ (292)

Other Income and Expenses (Tabl

Other Income and Expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Other Income and Expenses [Abstract]
Schedule of Other Operating Cost and Expense, by Component	Quarter ended 3/31/2022 3/31/2021 Foreign exchange net (gain) loss $ (4) $ 2 Impairment and closure expense — 1 Other (a) (2) (9) Other (income) expense $ (6) $ (6) (a) The quarter ended March 31, 2021, includes a gain of $6 million associated with the sale of property.

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Balance Sheet Information Disclosure [Abstract]
Accounts and Notes Receivable	3/31/2022 12/31/2021 Accounts and notes receivable, gross $ 606 $ 632 Allowance for doubtful accounts (41) (36) Accounts and notes receivable, net (a) $ 565 $ 596
Property, Plant and Equipment	3/31/2022 12/31/2021 Property, plant and equipment, gross $ 2,468 $ 2,477 Accumulated depreciation and amortization (1,287) (1,270) Property, plant and equipment, net $ 1,181 $ 1,207
Schedule of Other Assets	Other Assets 3/31/2022 12/31/2021 Operating lease right-of-use assets (a) $ 791 $ 809 Franchise incentives 179 164 Investment in Devyani International Limited (See Note 12) 122 118 Other 393 396 Other assets $ 1,485 $ 1,487 (a) Non-current operating lease liabilities of $776 million and $793 million as of March 31, 2022 and December 31, 2021, respectively, are included in Other liabilities and deferred credits in our Condensed Consolidated Balance Sheets.
Schedule of Cash and Cash Equivalents [Table Text Block]	3/31/2022 12/31/2021 Cash and cash equivalents as presented in Condensed Consolidated Balance Sheets $ 365 $ 486 Restricted cash included in Prepaid expenses and other current assets (a) 218 250 Restricted cash and restricted cash equivalents included in Other assets (b) 35 35 Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents as presented in Condensed Consolidated Statements of Cash Flows $ 618 $ 771 (a) Restricted cash within Prepaid expenses and other current assets reflects the cash related to advertising cooperatives which we consolidate that can only be used to settle obligations of the respective cooperatives and cash held in reserve for Taco Bell Securitization interest payments. (b) Primarily trust accounts related to our self-insurance program.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Tax And Effective Tax Rate	Quarter ended 2022 2021 Income tax (benefit) provision $ (1) $ 83 Effective tax rate (0.2) % 20.2 %

Revenue Recognition Accountin_2

Revenue Recognition Accounting Policy (Tables)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue Recognition and Deferred Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	Quarter ended 3/31/2022 KFC Division Taco Bell Division Pizza Hut Division Habit Burger Grill Division Total U.S. Company sales $ 15 $ 214 $ 5 $ 125 $ 359 Franchise revenues 45 157 64 1 267 Property revenues 3 11 1 — 15 Franchise contributions for advertising and other services 6 123 72 — 201 China Franchise revenues 61 — 16 — 77 Other Company sales 111 — — — 111 Franchise revenues 260 11 70 — 341 Property revenues 14 — — — 14 Franchise contributions for advertising and other services 145 1 16 — 162 $ 660 $ 517 $ 244 $ 126 $ 1,547 Quarter ended 3/31/2021 KFC Division Taco Bell Division Pizza Hut Division Habit Burger Grill Division Total U.S. Company sales $ 14 $ 208 $ 5 $ 121 $ 348 Franchise revenues 44 144 67 1 256 Property revenues 4 10 — — 14 Franchise contributions for advertising and other services 6 117 79 — 202 China Franchise revenues 62 — 16 — 78 Other Company sales 119 — 9 — 128 Franchise revenues 230 8 57 — 295 Property revenues 14 — 1 — 15 Franchise contributions for advertising and other services 132 1 17 — 150 $ 625 $ 488 $ 251 $ 122 $ 1,486
Deferred Franchise Fees [Table Text Block]	Deferred Franchise Fees Balance at December 31, 2021 $ 421 Revenue recognized that was included in unamortized upfront fees received from franchisees at the beginning of the period (19) Increase for upfront fees associated with contracts that became effective during the period, net of amounts recognized as revenue during the period 16 Balance at March 31, 2022 $ 418
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	We expect to recognize contract liabilities as revenue over the remaining term of the associated franchise agreement as follows: Less than 1 year $ 67 1 - 2 years 62 2 - 3 years 57 3 - 4 years 50 4 - 5 years 44 Thereafter 138 Total $ 418

Reportable Operating Segments (

Reportable Operating Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize Revenues and Operating Profit for each of our reportable operating segments: Quarter ended Revenues 2022 2021 KFC Division $ 660 $ 625 Taco Bell Division 517 488 Pizza Hut Division 244 251 Habit Burger Grill Division 126 122 $ 1,547 $ 1,486 Quarter ended Operating Profit 2022 2021 KFC Division $ 291 $ 300 Taco Bell Division 185 178 Pizza Hut Division 102 102 Habit Burger Grill Division (8) — Corporate and unallocated G&A expenses (71) (50) Unallocated Company restaurant expenses — — Unallocated Franchise and property expenses — — Unallocated Refranchising gain (loss) 4 15 Unallocated Other income (expense) 6 (2) Operating Profit $ 509 $ 543 Investment income (expense), net (a) 7 — Other pension income (expense) — (3) Interest expense, net (b) (118) (131) Income before income taxes $ 398 $ 409 Our chief operating decision maker ( “ CODM ” ) does not consider the impact of Corporate and unallocated amounts when assessing Divisional segment performance. As such, we do not allocate such amounts to our Divisional segments for performance reporting purposes. (a) Includes changes in the value of our investment in Devyani International Limited (see Note 12). (b) Includes fees expensed and unamortized debt-issuance costs written off totaling $12 million related to the refinancing of the Credit Agreement (as described within our 2021 Form 10-K) during the quarter ended March 31, 2021.

Pension Benefits (Tables)

Pension Benefits (Tables)	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The components of net periodic benefit cost associated with our U.S. pension plans are as follows: Quarter ended 2022 2021 Service cost $ 2 $ 2 Interest cost 8 8 Expected return on plan assets (12) (11) Amortization of net loss 3 6 Amortization of prior service cost 1 1 Net periodic benefit cost $ 2 $ 6

Short-term Borrowings and Lon_2

Short-term Borrowings and Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Short-term Borrowings and Long-term Debt	Short-term Borrowings and Long-term Debt Short-term Borrowings 3/31/2022 12/31/2021 Current maturities of long-term debt $ 80 $ 75 Less current portion of debt issuance costs and discounts (7) (7) Short-term borrowings $ 73 $ 68 Long-term Debt Securitization Notes $ 3,802 $ 3,811 Subsidiary Senior Unsecured Notes 750 750 Revolving Facility 174 — Term Loan A Facility 750 750 Term Loan B Facility 1,485 1,489 YUM Senior Unsecured Notes 4,475 4,475 Finance lease obligations 64 64 $ 11,500 $ 11,339 Less debt issuance costs and discounts (88) (86) Less current maturities of long-term debt (80) (75) Long-term debt $ 11,332 $ 11,178

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gains and losses on derivative instruments designated as cash flow hedges recognized in other comprehensive income and reclassifications from AOCI to earnings	Gains and losses on these interest rate swaps recognized in OCI and reclassifications from AOCI into Net Income were as follows: Quarter ended Gains/(Losses) Recognized in OCI (Gains)/Losses Reclassified from AOCI into Net Income 2022 2021 2022 2021 Interest rate swaps $ 59 $ 24 $ 11 $ 4 Income tax benefit/(expense) (14) (6) (3) (1)

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis	The following table presents the carrying value and estimated fair value of the Company’s debt obligations: 3/31/2022 12/31/2021 Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) Securitization Notes (a) $ 3,802 $ 3,703 $ 3,811 $ 3,872 Subsidiary Senior Unsecured Notes (b) 750 773 750 784 Term Loan A Facility (b) 750 748 750 748 Term Loan B Facility (b) 1,485 1,477 1,489 1,490 YUM Senior Unsecured Notes (b) 4,475 4,452 4,475 4,845 (a) We estimated the fair value of the Securitization Notes using market quotes and calculations. The markets in which the Securitization Notes trade are not considered active markets. (b) We estimated the fair value of the YUM and Subsidiary Senior Unsecured Notes, Term Loan A Facility and Term Loan B Facility using market quotes and calculations based on market rates.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Fair Value Condensed Consolidated Balance Sheet Level 3/31/2022 12/31/2021 Assets Other Investments Other assets 1 125 119 Other Investments Other assets 3 5 5 Liabilities Interest Rate Swaps Accounts payable and other current liabilities 2 17 38 Interest Rate Swaps Other liabilities and deferred credits 2 5 54

Financial Statement Presentat_2

Financial Statement Presentation (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)restaurantsoperating_segmentscountries_and_territioriesMonthsRate	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Number of Stores | restaurants	54,000
Number of Countries in which Entity Operates | countries_and_territiories	155
Percent Of System Units Located Outside United States | Rate	98.00%
Number of Reportable Segments | operating_segments	4
Fiscal period months standard for each quarter | Months	3
Prior Period Reclassification Adjustment	$ 0
Number of Stores with Suspended Operations | restaurants	70
Goodwill	$ 656		$ 657
Impairment and closure expense	0	$ 1
KFC Russia, Central and Eastern Europe Reporting Unit
Goodwill	13
RUSSIAN FEDERATION
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	80
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	50
Russia-Ukraine War
Impairment and closure expense	$ 0

Earnings Per Common Share ("E_3

Earnings Per Common Share ("EPS") (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Net Income		$ 399	$ 326
Weighted-average common shares outstanding (for basic calculation)		289	301
Effect of dilutive share-based employee compensation		5	4
Weighted-average common and dilutive potential common shares outstanding (for diluted calculation)		294	305
Basic EPS		$ 1.38	$ 1.09
Diluted EPS		$ 1.36	$ 1.07
Unexercised employee stock options and stock appreciation rights (in millions) excluded from the diluted EPS computation	[1]	1.2	2.3
[1]	These unexercised employee stock options and stock appreciation rights were not included in the computation of diluted EPS because to do so would have been antidilutive for the periods presented.

Shareholders' Deficit (Details)

Shareholders' Deficit (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022		Mar. 31, 2021
Repurchase Of Shares Of Common Stock [Line Items]
Repurchase of shares of Common Stock, value	$ 407	[1]	$ 275	[2]
Value of share repurchases with trade dates during the current reporting date but with settlement dates subsequent to the current reporting date	$ 64
Number of shares repurchased with trade dates during the current reporting date but with settlement dates subsequent to the current reporting date	500,000
Value of shares repurchased with trade dates prior to the current reporting quarter, but settlement dates in the current quarter			$ 11
Number of shares repurchased with trade dates prior to the current reporting quarter, but settlement dates in the current quarter			100,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 543
May 2021
Repurchase Of Shares Of Common Stock [Line Items]
Repurchase of shares of Common Stock, value	407		$ 0
Stock Repurchase Program, Authorized Amount	2,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	543
November 2019
Repurchase Of Shares Of Common Stock [Line Items]
Repurchase of shares of Common Stock, value			$ 275
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 0
Issued Common Stock
Repurchase Of Shares Of Common Stock [Line Items]
Shares Repurchased	3,359,000	[1]	2,599,000	[2]
Repurchase of shares of Common Stock, value	$ 22		$ 14
Issued Common Stock | May 2021
Repurchase Of Shares Of Common Stock [Line Items]
Shares Repurchased	3,359,000		0
Issued Common Stock | November 2019
Repurchase Of Shares Of Common Stock [Line Items]
Shares Repurchased	0		2,599,000
[1]	2022 amount includes the effect of $64 million in share repurchases (0.5 million shares) with trade dates on, or prior to, March 31, 2022, but cash settlement dates subsequent to March 31, 2022.
[2]	2021 amount excludes the effect of $11 million in share repurchases (0.1 million shares) with trade dates on, or prior to December 31, 2020, but cash settlement dates subsequent to December 31, 2020.

Shareholders' Deficit (Details

Shareholders' Deficit (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of changes in accumulated comprehensive income [Line Items]
Accumulated other comprehensive loss	$ (325)
Gains (losses) arising during the year classified into AOCI, net of tax	20
(Gains) losses reclassified from AOCI, net of tax	13
Other comprehensive income (loss), net of tax	33	$ 65
Accumulated other comprehensive loss	(292)
Translation Adjustments and Gains (Losses) From Intra-Entity Transactions of a Long-Term Nature
Schedule of changes in accumulated comprehensive income [Line Items]
Accumulated other comprehensive loss	(206)
Gains (losses) arising during the year classified into AOCI, net of tax	(23)
(Gains) losses reclassified from AOCI, net of tax	0
Other comprehensive income (loss), net of tax	(23)
Accumulated other comprehensive loss	(229)
Pension and Post-Retirement Benefits
Schedule of changes in accumulated comprehensive income [Line Items]
Accumulated other comprehensive loss	(34)
Gains (losses) arising during the year classified into AOCI, net of tax	0
(Gains) losses reclassified from AOCI, net of tax	4
Other comprehensive income (loss), net of tax	4
Accumulated other comprehensive loss	(30)
Derivative Instruments
Schedule of changes in accumulated comprehensive income [Line Items]
Accumulated other comprehensive loss	(85)
Gains (losses) arising during the year classified into AOCI, net of tax	43
(Gains) losses reclassified from AOCI, net of tax	9
Other comprehensive income (loss), net of tax	52
Accumulated other comprehensive loss	$ (33)

Other (Income) Expense (Details

Other (Income) Expense (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Other Income and Expenses [Line Items]
Foreign Currency Transaction Gain (Loss), before Tax		$ (4)	$ 2
Impairment and closure expense		0	1
Other income (expense) excluding foreign exchange gain (loss)	[1]	(2)	(9)
Other (income) expense		$ (6)	(6)
Gain (Loss) on Sale of Properties			$ 6
[1]	The quarter ended March 31, 2021, includes a gain of $6 million associated with the sale of property.

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Details) $ in Millions		Mar. 31, 2022USD ($)days	Dec. 31, 2021USD ($)
Accounts and Notes Receivable [Abstract]
Number of days from the period in which the corresponding sales occur that trade receivables are generally due | days		30
Accounts and notes receivable, gross		$ 606	$ 632
Allowance for doubtful accounts		(41)	(36)
Accounts and notes receivable, net	[1]	565	$ 596
License Fees Receivable Under Legal Dispute		$ 2
[1]	Accounts and notes receivable, net includes approximately $2 million in license fees at March 31, 2022 related to Yum China Holdings, Inc. ("Yum China") gross revenue during the quarter ended March 31, 2022 that Yum China is now disputing are due under the terms of the Master License Agreement (“MLA”) between the Company and Yum China. License fees related to such revenue have historically been paid by Yum China and we believe they continue to be due under the terms of the MLA.

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information (Details 2) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Property, plant and equipment, gross		$ 2,468	$ 2,477
Accumulated depreciation and amortization		(1,287)	(1,270)
Property, plant and equipment, net		1,181	1,207
Operating lease, right-of-use assets	[1]	791	809
Other assets		1,485	1,487
Other Assets, Miscellaneous, Noncurrent		393	396
Operating Lease, Liability, Noncurrent		776	793
Cash and cash equivalents as presented in Condensed Consolidated Balance Sheets		365	486
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		618	771	$ 802	$ 1,024
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Devyani
Equity Securities, FV-NI		122	118
Prepaid Expenses and Other Current Assets [Member]
Assets held-for-sale		9	12
Restricted Cash and Cash Equivalents	[2]	218	250
Other Current Assets [Member]
Restricted Cash and Cash Equivalents	[3]	35	35
Franchise Incentive [Member]
Other assets		$ 179	$ 164
[1]	Non-current operating lease liabilities of $776 million and $793 million as of March 31, 2022 and December 31, 2021, respectively, are included in Other liabilities and deferred credits in our Condensed Consolidated Balance Sheets.
[2]	Restricted cash within Prepaid expenses and other current assets reflects the cash related to advertising cooperatives which we consolidate that can only be used to settle obligations of the respective cooperatives and cash held in reserve for Taco Bell Securitization interest payments.
[3]	Primarily trust accounts related to our self-insurance program.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income tax provision	$ (1)	$ 83
Effective tax rate	(0.20%)	20.20%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ 82

Revenue Recognition Accountin_3

Revenue Recognition Accounting Policy (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues	$ 1,547	$ 1,486
Company Sales
Revenues	470	476
Franchise and property revenues
Revenues	714	658
Franchise contributions for advertising and other services
Revenues	363	352
UNITED STATES | Company Sales
Revenues	359	348
UNITED STATES | Franchise and property revenues
Revenues	267	256
UNITED STATES | Property Revenues
Revenues	15	14
UNITED STATES | Franchise contributions for advertising and other services
Revenues	201	202
CHINA | Franchise and property revenues
Revenues	77	78
Other, Outside the U.S. and China [Member] | Company Sales
Revenues	111	128
Other, Outside the U.S. and China [Member] | Franchise and property revenues
Revenues	341	295
Other, Outside the U.S. and China [Member] | Property Revenues
Revenues	14	15
Other, Outside the U.S. and China [Member] | Franchise contributions for advertising and other services
Revenues	162	150
KFC Global Division [Member]
Revenues	660	625
KFC Global Division [Member] | UNITED STATES | Company Sales
Revenues	15	14
KFC Global Division [Member] | UNITED STATES | Franchise and property revenues
Revenues	45	44
KFC Global Division [Member] | UNITED STATES | Property Revenues
Revenues	3	4
KFC Global Division [Member] | UNITED STATES | Franchise contributions for advertising and other services
Revenues	6	6
KFC Global Division [Member] | CHINA | Franchise and property revenues
Revenues	61	62
KFC Global Division [Member] | Other, Outside the U.S. and China [Member] | Company Sales
Revenues	111	119
KFC Global Division [Member] | Other, Outside the U.S. and China [Member] | Franchise and property revenues
Revenues	260	230
KFC Global Division [Member] | Other, Outside the U.S. and China [Member] | Property Revenues
Revenues	14	14
KFC Global Division [Member] | Other, Outside the U.S. and China [Member] | Franchise contributions for advertising and other services
Revenues	145	132
Pizza Hut Global Division [Member]
Revenues	244	251
Pizza Hut Global Division [Member] | UNITED STATES | Company Sales
Revenues	5	5
Pizza Hut Global Division [Member] | UNITED STATES | Franchise and property revenues
Revenues	64	67
Pizza Hut Global Division [Member] | UNITED STATES | Property Revenues
Revenues	1	0
Pizza Hut Global Division [Member] | UNITED STATES | Franchise contributions for advertising and other services
Revenues	72	79
Pizza Hut Global Division [Member] | CHINA | Franchise and property revenues
Revenues	16	16
Pizza Hut Global Division [Member] | Other, Outside the U.S. and China [Member] | Company Sales
Revenues	0	9
Pizza Hut Global Division [Member] | Other, Outside the U.S. and China [Member] | Franchise and property revenues
Revenues	70	57
Pizza Hut Global Division [Member] | Other, Outside the U.S. and China [Member] | Property Revenues
Revenues	0	1
Pizza Hut Global Division [Member] | Other, Outside the U.S. and China [Member] | Franchise contributions for advertising and other services
Revenues	16	17
Taco Bell Global Division [Member]
Revenues	517	488
Taco Bell Global Division [Member] | UNITED STATES | Company Sales
Revenues	214	208
Taco Bell Global Division [Member] | UNITED STATES | Franchise and property revenues
Revenues	157	144
Taco Bell Global Division [Member] | UNITED STATES | Property Revenues
Revenues	11	10
Taco Bell Global Division [Member] | UNITED STATES | Franchise contributions for advertising and other services
Revenues	123	117
Taco Bell Global Division [Member] | CHINA | Franchise and property revenues
Revenues	0	0
Taco Bell Global Division [Member] | Other, Outside the U.S. and China [Member] | Company Sales
Revenues	0	0
Taco Bell Global Division [Member] | Other, Outside the U.S. and China [Member] | Franchise and property revenues
Revenues	11	8
Taco Bell Global Division [Member] | Other, Outside the U.S. and China [Member] | Property Revenues
Revenues	0	0
Taco Bell Global Division [Member] | Other, Outside the U.S. and China [Member] | Franchise contributions for advertising and other services
Revenues	1	1
Habit Division [Member]
Revenues	126	122
Habit Division [Member] | UNITED STATES | Company Sales
Revenues	125	121
Habit Division [Member] | UNITED STATES | Franchise and property revenues
Revenues	1	1
Habit Division [Member] | UNITED STATES | Property Revenues
Revenues	0	0
Habit Division [Member] | UNITED STATES | Franchise contributions for advertising and other services
Revenues	0	0
Habit Division [Member] | CHINA | Franchise and property revenues
Revenues	0	0
Habit Division [Member] | Other, Outside the U.S. and China [Member] | Company Sales
Revenues	0	0
Habit Division [Member] | Other, Outside the U.S. and China [Member] | Franchise and property revenues
Revenues	0	0
Habit Division [Member] | Other, Outside the U.S. and China [Member] | Property Revenues
Revenues	0	0
Habit Division [Member] | Other, Outside the U.S. and China [Member] | Franchise contributions for advertising and other services
Revenues	$ 0	$ 0

Revenue Recognition Accountin_4

Revenue Recognition Accounting Policy (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred Revenue	$ 418	$ 421
Revenue recognized that was included in unamortized upfront fees received from franchisees at the beginning of the period	(19)
Increase for upfront fees associated with contracts that became effective during the period, net of amounts recognized as revenue during the period	$ 16

Revenue Recognition Accountin_5

Revenue Recognition Accounting Policy (Details 3) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred Revenue	$ 418	$ 421
Less than 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred Revenue, Revenue Expected to be Recognized	67
1 - 2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred Revenue, Revenue Expected to be Recognized	62
2 - 3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred Revenue, Revenue Expected to be Recognized	57
3 - 4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred Revenue, Revenue Expected to be Recognized	50
4 - 5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred Revenue, Revenue Expected to be Recognized	44
Thereafter
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred Revenue, Revenue Expected to be Recognized	$ 138

Reportable Operating Segments_2

Reportable Operating Segments (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenues		$ 1,547	$ 1,486
Operating Profit		509	543
General and Administrative Expense		253	206
Company restaurant expenses		402	392
Franchise and property expenses		32	23
Refranchising (gain) loss		(4)	(15)
Other (income) expense		6	6
Investment (income) expense, net	[1]	(7)	0
Other pension income (expense)		0	(3)
Interest Income (Expense), Net	[2]	(118)	(131)
Income Before Income Taxes		398	409
Interest Expense, Debt			12
KFC Global Division [Member]
Segment Reporting Information [Line Items]
Revenues		660	625
Operating Profit		291	300
Pizza Hut Global Division [Member]
Segment Reporting Information [Line Items]
Revenues		244	251
Operating Profit		102	102
Taco Bell Global Division [Member]
Segment Reporting Information [Line Items]
Revenues		517	488
Operating Profit		185	178
Habit Division [Member]
Segment Reporting Information [Line Items]
Revenues		126	122
Operating Profit		(8)	0
Unallocated [Member]
Segment Reporting Information [Line Items]
General and Administrative Expense		71	50
Company restaurant expenses		0	0
Franchise and property expenses		0	0
Refranchising (gain) loss		(4)	(15)
Other (income) expense		$ 6	$ (2)
[1]	Includes changes in the value of our investment in Devyani International Limited (see Note 12).
[2]	Includes fees expensed and unamortized debt-issuance costs written off totaling $12 million related to the refinancing of the Credit Agreement (as described within our 2021 Form 10-K) during the quarter ended March 31, 2021.

Pension Benefits (Details)

Pension Benefits (Details) - UNITED STATES - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	$ 2	$ 6
General and Administrative Expense [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	2
Other pension (income) expense [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	8	8
Expected return on plan assets	(12)	(11)
Amortization of net loss	3	6
Amortization of prior service cost	$ 1	$ 1

Short-term Borrowings and Lon_3

Short-term Borrowings and Long-term Debt (Details) - USD ($) $ in Millions		Apr. 01, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term Line of Credit			$ 174		$ 0
Finance Lease, Liability, Noncurrent			64		64
Long-term debt and capital less obligations, including current maturities and debt issuance costs			11,500		11,339
Less Debt Issuance Costs, Noncurrent, Net			(88)		(86)
Long-term debt			11,332		11,178
Interest Paid, Including Capitalized Interest, Operating and Investing Activities			90	$ 88
Interest Expense, Debt				$ 12
Short-term Debt [Line Items]
Long-term Debt, Current Maturities			80		75
Less current portion of debt issuance costs and discounts			(7)		(7)
Short-term borrowings			73		68
Subsidiary Senior Unsecured Notes [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Senior Notes	[1]		750		750
Term Loan A Facility [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Long-term Debt	[1]		750		750
Term Loan B Facility [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Long-term Debt	[1]		1,485		1,489
YUM Senior Unsecured Notes [Member] [Domain] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Senior Notes	[1]		4,475		$ 4,475
Senior Unsecured Notes Due April 2025
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 600
Debt Instrument, Interest Rate, Stated Percentage			7.75%
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		103.875%
Payment for Debt Extinguishment or Debt Prepayment Cost		$ 23
Debt Instrument, Maturity Date		Apr. 1, 2025
Unsecured Notes Due April 2032 | Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.375%
Proceeds from Issuance of Debt		$ 1,000
Senior Unsecured Notes Due April 2032
Debt Instrument [Line Items]
Debt Instrument, Maturity Date		Apr. 1, 2032
[1]	We estimated the fair value of the YUM and Subsidiary Senior Unsecured Notes, Term Loan A Facility and Term Loan B Facility using market quotes and calculations based on market rates.

Derivative Instruments (Details

Derivative Instruments (Details) - Cash Flow Hedging [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ (17)
Forward-starting interest rate swap [Member]
Derivative, Maturity Date	Mar. 1, 2025
Derivative, Notional Amount	$ 1,500	$ 1,500

Derivative Instruments (Detai_2

Derivative Instruments (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gains (losses) arising during the period	$ 57	$ 24
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	(14)	(6)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	(3)	(1)
Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gains (losses) arising during the period	59	24
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 11	$ 4

Fair Value Disclosures (Details

Fair Value Disclosures (Details) ₨ in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2022USD ($)Rate	Mar. 31, 2022INR (₨)	Mar. 31, 2022INR (₨)Rate	Dec. 31, 2021USD ($)	Dec. 31, 2021INR (₨)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investment, Ownership Percentage | Rate		5.00%		5.00%
Investment Owned, at Fair Value		$ 122		₨ 9,300	$ 118	₨ 8,800
Investment Income, Nonoperating		7	₨ 540
Secured Debt [Member] | Securitization Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Noncurrent	[1]	3,802			3,811
Secured Debt [Member] | Securitization Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	[1]	3,703			3,872
Secured Debt [Member] | Term Loan A Facility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt obligations, excluding capital leases, carrying amount	[2]	750			750
Secured Debt [Member] | Term Loan A Facility [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	[2]	748			748
Secured Debt [Member] | Term Loan B Facility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt obligations, excluding capital leases, carrying amount	[2]	1,485			1,489
Secured Debt [Member] | Term Loan B Facility [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	[2]	1,477			1,490
Unsecured Debt [Member] | Subsidiary Senior Unsecured Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Noncurrent	[2]	750			750
Unsecured Debt [Member] | Subsidiary Senior Unsecured Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	[2]	773			784
Unsecured Debt [Member] | YUM Senior Unsecured Notes [Member] [Domain]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Noncurrent	[2]	4,475			4,475
Unsecured Debt [Member] | YUM Senior Unsecured Notes [Member] [Domain] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	[2]	4,452			4,845
Other Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure		125			119
Other Assets [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure		5			5
Other Current Liabilities [Member] | Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Fair Value, Gross Liability		17			38
Other Noncurrent Liabilities [Member] | Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Fair Value, Gross Liability		$ 5			$ 54
[1]	We estimated the fair value of the Securitization Notes using market quotes and calculations. The markets in which the Securitization Notes trade are not considered active markets.
[2]	We estimated the fair value of the YUM and Subsidiary Senior Unsecured Notes, Term Loan A Facility and Term Loan B Facility using market quotes and calculations based on market rates.

Contingencies (Details)

Contingencies (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Guarantor Obligations [Line Items]
Deferred Tax Liability Not Recognized, Events that Would Cause Temporary Difference to be Taxable, Undistributed Earnings of Foreign Subsidiaries	As a result of an audit by the Internal Revenue Service (“IRS”) for fiscal years 2013 through 2015, on October 13, 2021, we received a Notice of Proposed Adjustment (“NPA”) from the IRS for the 2014 fiscal year relating to a series of reorganizations we undertook during that year in connection with the business realignment of our corporate and management reporting structure along brand lines. The IRS asserts that these reorganizations involved taxable distributions of approximately $6.0 billion. We expect to receive the Revenue Agent’s Report (“RAR”) including the IRS’s calculation of the tax assessment in the second quarter of 2022. Based on the NPA, the amount of additional tax to be proposed is expected to be material. We disagree with the IRS’s position as asserted in the NPA and intend to contest it vigorously by filing a protest disputing on multiple grounds any proposed taxes and proceeding to the IRS Office of Appeals.The final resolution of this matter is uncertain, but the Company believes that it is more likely than not the Company’s tax position will be sustained; therefore, no reserve is recorded with respect to this matter. An unfavorable resolution of this matter could have a material, adverse impact on our consolidated Financial Statements in future periods.
Property Lease Guarantee [Member]
Guarantor Obligations [Line Items]
Year longest lease expires	2065
Guarantor Obligations, Maximum Exposure	$ 400
Guarantee Obligations Maximum Exposure At Present Value	$ 325

Contingencies (Details 2)

Contingencies (Details 2)	3 Months Ended
	Mar. 31, 2022
Loss Contingencies [Line Items]
Litigation, Nature	On January 29, 2020, the Special Director issued an order imposing a penalty on YRIPL and certain former directors of approximately Indian Rupee 11 billion, or approximately $145 million. Of this amount, $140 million relates to the alleged failure to invest a total of $80 million in India within an initial seven-year period. We have been advised by external counsel that the order is flawed and have filed a writ petition with the Delhi High Court, which granted an interim stay of the penalty order on March 5, 2020. The stay order remains in effect and the next hearing is now scheduled for August 31, 2022. We deny liability and intend to continue vigorously defending this matter. We do not consider the risk of any significant loss arising from this order to be probable.